Chinese property giant Evergrande has a huge debt problem – here’s why you should care
Chinese real estate behemoth Evergrande faced its biggest crisis yet in September 2021, spooking markets and prompting comparisons to the collapse of U.S. investment bank Lehman Brothers in 2008.
Since the company’s founding in 1996 by Hui Ka Yan, it has since accumulated more than $300 billion in debt, making it the world’s most indebted developer.
“As Evergrande teeters on the edge of default, the collapse would have grave consequences for hundreds of thousands of property buyers and retail customers,” said CNBC Senior Correspondent Emily Tan.
01:14 Background of Evergrande
01:57 Evergrande's huge debt
02:43 People's Bank of China (PBOC)'s three red-lines & rationale
04:16 Domino effect of the Evergrande crisis
06:03 Is this China's 'Lehman moment'?
06:32 Will there be a bailout?
08:27 Biggest takeaway
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Thu, 30 Sep 2021 11:00:02 GMT